SYSCO Co. (SYY) Stake Lowered by Meyer Handelman Co.

Meyer Handelman Co. trimmed its position in shares of SYSCO Co. (NYSE:SYY) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 629,453 shares of the company’s stock after selling 2,500 shares during the period. SYSCO comprises 1.8% of Meyer Handelman Co.’s investment portfolio, making the stock its 14th biggest position. Meyer Handelman Co.’s holdings in SYSCO were worth $38,226,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SYY. Janus Henderson Group PLC raised its position in shares of SYSCO by 9,055.0% during the 2nd quarter. Janus Henderson Group PLC now owns 5,707,603 shares of the company’s stock valued at $287,264,000 after purchasing an additional 5,645,259 shares during the period. Capital World Investors raised its position in shares of SYSCO by 11.7% during the 2nd quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock valued at $692,893,000 after purchasing an additional 1,445,000 shares during the period. Parnassus Investments CA raised its position in shares of SYSCO by 20.3% during the 3rd quarter. Parnassus Investments CA now owns 7,410,401 shares of the company’s stock valued at $399,791,000 after purchasing an additional 1,250,005 shares during the period. American Century Companies Inc. raised its position in shares of SYSCO by 21.1% during the 3rd quarter. American Century Companies Inc. now owns 6,120,917 shares of the company’s stock valued at $330,223,000 after purchasing an additional 1,065,987 shares during the period. Finally, Miller Howard Investments Inc. NY bought a new stake in shares of SYSCO during the 4th quarter valued at $60,798,000. Hedge funds and other institutional investors own 80.09% of the company’s stock.

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In other SYSCO news, SVP William W. Goetz sold 11,323 shares of SYSCO stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $62.00, for a total value of $702,026.00. Following the completion of the transaction, the senior vice president now directly owns 35,825 shares of the company’s stock, valued at approximately $2,221,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William J. Delaney III sold 150,000 shares of SYSCO stock in a transaction on Monday, November 13th. The stock was sold at an average price of $54.05, for a total transaction of $8,107,500.00. Following the completion of the transaction, the chief executive officer now directly owns 526,725 shares of the company’s stock, valued at $28,469,486.25. The disclosure for this sale can be found here. Insiders sold a total of 294,695 shares of company stock valued at $16,866,723 over the last three months. Corporate insiders own 9.60% of the company’s stock.

SYY has been the topic of several recent analyst reports. Pivotal Research restated a “hold” rating and set a $53.00 price objective on shares of SYSCO in a research report on Sunday, November 5th. Loop Capital raised their price objective on shares of SYSCO to $68.00 and gave the company a “buy” rating in a research report on Monday, December 11th. BMO Capital Markets set a $66.00 price objective on shares of SYSCO and gave the company a “buy” rating in a research report on Friday, December 8th. Zacks Investment Research cut shares of SYSCO from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Morgan Stanley raised shares of SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 target price for the company in a research note on Tuesday, January 16th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. SYSCO has an average rating of “Buy” and an average target price of $65.20.

SYSCO Co. (NYSE:SYY) opened at $58.33 on Friday. The firm has a market cap of $30,443.54, a price-to-earnings ratio of 22.18, a P/E/G ratio of 1.96 and a beta of 0.56. SYSCO Co. has a 52 week low of $48.85 and a 52 week high of $64.27. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.88 and a current ratio of 1.38.

SYSCO (NYSE:SYY) last posted its earnings results on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $14.15 billion. SYSCO had a net margin of 2.10% and a return on equity of 61.02%. SYSCO’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the company posted $0.58 earnings per share. equities analysts predict that SYSCO Co. will post 2.95 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 5th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.47%. This is a boost from SYSCO’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, January 4th. SYSCO’s dividend payout ratio (DPR) is presently 64.29%.

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SYSCO Profile

Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.

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